The 4905.75 target shown has a good chance of ending the bull market. Even if it doesn’t, it is all but certain to produce a very substantial correction that we can trade from the short side. I cannot guarantee this Hidden Pivot will work with the micro-precision you’ve come to expect from Rick’s Picks, since the A, B and C coordinates are a blend of different contract months. But 4905 will be close enough for our purposes, including: 1) staying with the trend until its last gasp; 2) reversing our positions at that time; and, 3) preparing for the onset of the deep economic depression the coming bear market will bring. In the meantime, and most immediately, the 4760 target given here previously remains my minimum upside target for the near term. It is as promising a place to get short as the one at 4724.25 given here last week. That Hidden Pivot caught the top of a 40-point drop within three ticks and could have been worth as much as $2,000 per contract to any subscriber who traded it. ______ UPDATE (Nov 22, 9:44 p.m. EST): Yeah, I’m wondering myself whether today’s bull-trap stab up to 4740 was close enough to my number to mark an important top. My gut feeling is that it wasn’t, but I’ll be paying closer attention in any event to small things that develop in the next few days.
ESZ21 – December E-Mini S&P (Last:4674.50)